Geospace Could Become $65 Stock In Four Years

Geospace Technologies Corporation
could become a $65 stock in the next four years, Reverend Emmanuel Lemelson said on Benzinga PreMarket Prep. Houston-based Geospace makes seismic equipment used in the exploration and production industry. Lemelson's Amnova Fund has been accumulating Geospace shares for the past 18 months and currently owns 1.03 million shares, or 7.8 percent of the company's outstanding shares. "Even if it take four years for Geospace to revert to median price- to-book value (2.7-2.8 times its tangible book), it will be a $65 stock," Lemelson said on the show. In a recent letter to investors, the hedge fund manager who is an Orthodox priest, said he plans to keep buying shares for the next four or five months and "hopefully we'll get 10 percent of the company." Lemelson said Geospace is well positioned for a recovery in oil prices as he feels E&P has to resume for stable energy markets. "The supply demand equation is very close" and noted that the disruptions at Libya Nigeria and Canada will take away 2 million barrels of production per day. Lemelson added that business cycle will normalize once oil firms start replacing their reserves. Shares of Geospace rose 3.01 percent to $17.44.

Posted In: Analyst ColorNewsAnalyst RatingsTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.